First Midwest Bank Launches Guaranteed College Scholarship Rewards Program

ITASCA, IL--(Marketwire - May 28, 2008) - First Midwest Bank today announced the introduction of Tuition Rewards, a rewards program that allows its clients to earn up to one year of free tuition at hundreds of participating private colleges and universities across the United States, simply for taking care of their everyday banking needs. Among the participating schools, twenty-seven are located in Illinois, Indiana, and Iowa -- where First Midwest Bank operates 102 full-service branch offices.

"As the cost of a quality college education continues to rise, we think it is important to offer our clients an additional way to save for college," said Janet M. Viano, Group President Retail Banking. "That is why we are so pleased to offer our clients this innovative program that pays tuition credits that can accumulate in a special Tuition Credit Account. These credits can be used to reduce tuition costs at some of the best private colleges and universities in the country."

The First Midwest Tuition Rewards program is a unique private college tuition credit program that lets clients earn financial credit for a student's college or university education, based on the client's relationship and balances with the Bank.

Clients of First Midwest Bank's Tuition Rewards program earn guaranteed scholarships at over 200 participating private colleges and universities across America. The value of Tuition Rewards guaranteed scholarships could equal up to one full year's tuition. As the client's total balances and number of services increase with the bank, the Tuition Rewards scholarship credits increase as well.

"Similar to popular rewards programs, Tuition Rewards accumulate over the life of the client's relationship with First Midwest and increase as that relationship continues to grow," added Viano. "Best of all, this program is free to our clients."

First Midwest Bank is working with SAGE Scholars to offer this visionary private college scholarship program. SAGE (Savings and Growth for Education) is a program of scholarships provided by participating private colleges nationwide that are given as credit against full tuition. These scholarships are available to anyone at any income level. SAGE Scholars provides the credits earned with the First Midwest Tuition Rewards program.

Clients who have services with First Midwest Bank today or who open an account with First Midwest qualify for the First Midwest Tuition Rewards program.

First Midwest is the premier relationship-based banking franchise in the growing Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest provides the full range of both business and retail banking and trust and investment management services through 102 offices located in 63 communities, primarily in metropolitan Chicago. First Midwest was recently recognized by the Alfred P. Sloan Awards for Business Excellence in Workforce Flexibility in the greater Chicago Area.

First Midwest Tuition Rewards is offered in cooperation with SAGE Scholars, Inc. -- a nationwide education funding and information provider specializing in college savings and tuition planning. SAGE Scholars was founded in 1995 by Dr. James Johnson, the former director of admissions and financial aid at the Wharton Graduate School, University of Pennsylvania. SAGE's Tuition Rewards plan is now the largest private school college savings program in the U.S., based on the number of participating students and assets under management.

For more information about First Midwest Tuition Rewards, visit www.firstmidwest.com/tuitionrewards.

Contact Information: CONTACT: Brian J. O'Meara Senior Vice President Marketing Director (630) 875-7260 www.firstmidwest.com First Midwest Bank One Pierce Place, Suite 1500 Itasca, Illinois 60143-9768 (630) 875-7450